European Markets Higher at Midday

London's Financial Times 100 index was up 167 points (4.4 percent), to 3,948. The CAC-40 in Paris was up 130 points (4.5 percent), to 3011. And the DAX in Frankfurt was up 147 points (3.6 percent), at 4274.

The S&P futures contract was up 13 points, indicating a higher opening for U.S. markets.

In Asia, Tokyo markets were closed for a national holiday. They will reopen Tuesday. In Hong Kong, the Hang Seng index dropped 201 points (1.6 percent), to close at 12,458.